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CNBC
Nov 9, 2012 4:00am EST
the if stuff here on on "worldwide exchange." >> but there are two of us. you're back. >> i'm back here. eyes are getting better. >> glasses are gone. >>> so on today's program, we'll bring you live updates from beijing as the chinese economy shows signs of improve. >>> and we'll head out to washington for a view on how the handover of power in china will impact relations in the u.s. >> we're in london to talk about shipping trends. >>> plus what will obama do about the looming fiscal cliff? we'll have plenty of analysis from commentators. >> and we'll hear first from the cfo of aliance. but first day two data suggested growth is picking up and inflation is moderating meaning beijing may have more scope to ease if necessary. ppi industrial output and retail sales all came in better than forecast. eunice joins us from beijing. i'd hate to suggest this is quite good timing for this data. very convenient. >> what are you suggesting? a lot of people are saying that the numbers are showing the economy is bottoming out and a lot of people do use the numbers as a guideline at least. they're saying t
CNBC
Nov 6, 2012 4:00am EST
speeches, fund-raisers, they're all over. now comes down to u.s. voters. more than 120 million are expected to show up at the polls. >> and european investors are holding off on big moves. equities just edging higher led by technology stocks. >> and adecco sees hiring picking up in america. >>> we're finally here, election day in the united states. before that, we have the latest pmis out of the eurozone. economy declined steepening going into the fourth quarter. the final services pmi lower than the flash. it was 46.2 was the flash. lowest since july 2009. that means the composite final pmi 45.7. the flash 45.8. french services pmi weakened, also. 46.2. so both those major parts of the eurozone economy -- >> and remember, this is a leading indicator. if you see europe doing any better next year, you have to start seeing at least this indicator bottoming. >> dollar just dipped down to its lowest point of the session on the back of that. and of course we've got in spain they're talking about the groth being much weaker than the government's forecast. >> even though their service might have b
CNBC
Nov 7, 2012 4:00am EST
rolls to re-election and a second term, defeating mitt romney despite a weak u.s. economy and persistently high unemployment. >> investors cheer obama's re-election. equities trading high led by autos and health care stocks. >> democrats keep their hold of the senate and republicans keep their control of the house. >> there will be a tough challenge facing the looming fiscal cliff. >>> a very good morning to you. it's been a long night, but we have a result. >> yes, we do. let's get right it to. president barack obama capturing a second term in the white house despite the struggling u.s. economy. he did manage to win many of the same states he took in 2008 and nearly all the critical swing states, including ohio, virginia, and colorado. speaking to supporters in chicago just a few hours ago, the president congratulated his republican challenger on the spirited race and said there's plenty of work ahead to fix the country's fiscal problems. >> i believe we can seize this future together, because we are not as divided as our politics suggest. we're not as cynical as the pund
CNBC
Nov 2, 2012 5:00am EDT
>>> welcome to worldwide exchange. here are your headlines. the final set of numbers on the u.s. jobs market before the election are out in just a few hours forecasts calling for another month of modest but not stellar payroll growth. >> dow, nasdaq post strongest session since mid september. >> the rising cost of sandy, one major risk modeling firm now says the economic losses from the storm could reach $50 billion. >> and china steps insecurity ahead of next week's com you uhe nis party congress. even model airplanes have been grounded. if you're just joining us, very good morning to you. this is where we stand. we are at the moment dow 24 points below fair value. let's show you where we is an with you're feuropean stocks. cac down half a percent, ftse 100 down 0.2%. let's show you some individual stocks in focus. losses on friday hurt by a sector wide slump. equipment maker cutting back spending down as you can see merely 7%. rbs coming out with results this morning. this is the uk bank with a government owned majority and part nationalized lending reporting an increase in th
CNBC
Nov 1, 2012 5:00am EDT
>>> these are your headlines. >> a tough start to a new month for equities as all through u.s. indexes snap a four month winning streak in the first day of trade after the market shut down. >> campaigning resumes as the northeast assesses the damage from super storm sandy. good and big earnings day for oil giants giants. shell sees a fall and exxonmobile due to report before the opening bell. >> growth recovery may be near. official october pmi bouncing back into expansion territory. >>> we're under way just one hour and an awful lot to to get to. >> new york city still struggling to right itself after monday's super storm. one stap he have the big apple will return, the mta will resume partial subway service on 14 lines. la guardia airport will also reopen at 7:00 a.m. with limited service. amtrak says it will try to restore service to penn station come friday. >> homes in bay ahead are seriously damaged or destroyed. president obama got a firsthand look with governor chris christie yesterday afternoon. >> and danielle lee joins us, she's in the town of toms river. and we kn
CNBC
Nov 5, 2012 4:00am EST
here. the u.s. allegatielections and redskins lost. >> we will mention the redskins indicator, but it's true whether the u.s., china, greece, eurozone itself would make for a big week, but combine them all together, in fact it's no wonder that markets are a little unnerved. >> coming up today, plenty to get through. we're at singapore where hundyui shares are down. >> and here in london, uk pmi data will be out. the question whether it will follow an upward trend. >> and china preparing for the once in a decade political handover. we'll take a lower look at the new leadership. >> when the redskins win or lose, it has predicted the top winner since 1980. there has been a notable expossession of 1984. >> although gore did win the popular vote but not the electoral college. >> in 2000. >> that's right. >> the all-important football -- i should say american football indicator here. it points towards a romney victory. >> besides all that, plenty corporate news. hsbcs has set aside an additional $800 million in the third quarter to deal with the u.s. anti-money laundering probe. that brings
CNBC
Nov 13, 2012 4:00am EST
.1 million barrels a day. impact of hurricane sandy in the u.s., reduced, as well. crude oil supply dipped to a nine month low. so the demand being cut, patrick armstrong is where us, managing partner at investment managers. but that's clearly because of global weakness -- well, economic weakness in europe and hurricane impact. >> definitely. year over year, oil demand is up. we've had very weak economy in europe. not much growth in the united states. but i think that's the trend we'll be playing out for the next few years. >> oil 110 at the moment. is that a fair price? >> there's premium built in because of geopolitical risks. i think premium is probably justifiable. you look at wti at $23 discount to where breptd is. that's not sustainable in the long time, but given inventory levels, that will stay. >> do you keep your trade on oil? >> we have neutral position, but we're short the front month. respe respect. we make money by rolling the contracts the other way around. we're long oil in the 12 months forward rolling in to the 13th month and we end up with little more oil with that strat
CNBC
Nov 8, 2012 6:00am EST
. u.s. equity futures should be interesting to look at temperature basically on hold. not sure what to do after yesterday. we'll talk more about the economy in a minute with david rosenburg. it was pretty clear yesterday that depending on how you wanted to spin it, could you say how do you do for another four years. i don't remember any euro news in the last six months no matter how bad it was, we didn't get it free handle. so there's more to it than just europe. >> it was the fiscal cliff, but also the financials got hit so hard. if it had been romney, the cliff would be less of a deal because they would stepped all of them. so now we know and we lettered it first hand yesterday. boehner said we're open to tax increase, but part of a bigger plan that involves spending cuts. dove did a bungee -- >> worst thing i ever did. >> but it goes down and then right back up. >> the worst part is you feel like you're connected on something, but don't. it's a free fall until the very he said and then he start to feel like i'm connected to something and it throws being back into the air. >> my q
CNBC
Nov 2, 2012 4:00pm EDT
a shortened week. let's bring in our guests for their take on what went on. with us now, chip dixon, jeff cox, and rick santelli. nice to have you on the program. thanks for joining us. chip, let me begin with you. haven't see you in a little bit. we used to talk long ago when you were at a different firm. welcome back to cnbc. >> thank you. >> you are the director of research discern. what is your research telling you here about where we are in this market and in this cycle for the economy? >> well, it tell us that the housing sector is improving and the residential side. commercial permit activity, which we see, has gone up, it's kind of plateauing. it tells us we're dealing with a lot of uncertainty out there. there's a tremendous amount of pent-up capacity in corporate america if we can just get the right fiscal policies in place. this economy could do well. >> do you think things loosen up after the election when we know who the president will be? >> i think it depends. then we're going to have more clarity on the policies. what we want in place are constructive growth oriented fiscal po
CNBC
Nov 1, 2012 4:00am EDT
. >>> welcome back. and a special welcome to viewers in the u.s. joining us this morning. let's take a look at the market open. we had the u.s. returning to business after the two day close after sandy, but the reaction was fairly muted. european investors as they watch the action on on wall street, but also this occurred on average volumes taking place on wall street. let's take a look at some of the appetite. a wish washy open. this is the start of a brand new trading month. and if you look over the course of the last five months, it's been a fairly decent performance for european markets. up almost 13% despite all the macroeconomic headwinds that we face. let's show you what's happening on on the open. lots happening in the oil and gas sector. we had numbers also out from the resources sector. but the overall tone in oil and gas is negative. there is some gray on the charts to report. retail autos tracking higher, household goods. and lloyds here in the uk has been reporting, as well. and there's been a very strong response to its numbers popping up more than 5% on the open
CNBC
Nov 1, 2012 6:00am EDT
adp employment report. mark zandi will deliver the report to us first on cnbc. let's get over to andrew with more of today's top stories. >> joe, i think actually we're going to go and talk to mary thompson. as new jersey begins to recover, gas lines are growing. mary thompson is on the new jersey turnpike this morning. mary, good to see you. but there's been a lot of lines and a lot of people talking about this. >> reporter: yeah, very frustrating situation. take a look behind me, you can see the line at the vince lombardi station. and what you can't see is that it stretches down just about a half a mile to the entrance to this rest stop. our cameraman waited in line to get gasoline, he said it took him about 25 minutes. and brian sullivan drove past it yesterday and said the line was at least 200 cars deep. similar scenes like there are being played out all over new jersey as well as long island. residents driving across state lines to find gas, others expressing increasing frustration with the situation. >> impossible. can't get it. and we have no lights on, so i have to ge
CNBC
Nov 6, 2012 9:00am EST
seen it. >> we're glad you came. >> join us tonight for a special edition of "squawk box." "squawk on the street" begins right now. ♪ >>> after all of the primaries, the ads, the debates, it all comes down to you voting today. good morning. happy election day. welcome to "squawk on the street." i'm carl quintanilla with melis melissa, jim cramer, david faber. some green arrows on the dow. stocks haven't had a three-day winning streak since october 17 as they really do wonder what the end result is going to be after the polls close. as for europe, some pmi numbers coming out. a lot of the negative but some argue not deteriorating as quickly as they have been in recent months and quarters. road map this morning is a long trip from new hampshire to hawaii as americans vote today. markets awaiting the results. bear in mind, 30 million americans have already cast their ballots of early voting. how does that change today's dynamics? >> gm gets 11 billion $11 billi credit lines a sign it may buy back shares from the government. nissan and suzuki see big impact. >> tens of thousands of b
CNBC
Nov 5, 2012 6:00am EST
kate kelly will join us from new jersey in just a moment. also among our guests, john ike burger of the national association of convenience stores. his members sell 80% of all the gasoline in the united states. now making the cleanup and recovery even more difficult, we have forecasters warning that a harsh nor'easter is on the way. we'll have a live report from the weather chan nenel in 20 minutes. amid all the problems is tomorrow is election day. the candidates are making a final push in six swing states. the latest poll shows the race is in a dead heat. barely favoring the president in most cases. reuters is reporting similar margins in florida, virginia, colorado and ohio. >> governor romney has been having a tough time here in ohio because everybody knows he was against saving the auto industry. you don't scare people just to scare up some votes. >> i can't wait for us to get started. he's hoping we'll settle. americans don't settle. we build, we aspire, we dream, we listen to that voice that says we can do better. >> john harwood will join us with more. and then we'll focu
CNBC
Nov 5, 2012 9:00am EST
. >> that does it for us today. we'll see you tomorrow. right now it's time for "squawk on the street." >>> good morning. happy monday. welcome to "squawk on the street." i'm melissa lee live from the new york stock exchange. we're kicking off what could be a very busy week on wall street. the presidential election is tomorrow. look at how we are setting up. implied opens across the board to the downside s&p looking to lose 2.5 at the open. as to europe that's where action is. jitters about greece and the bailout plan sending markets there lower. italy down 1.4%. voters cast their ballots in the presidential election here. greece must win key support for measures necessary for a bailout and delegates meet in china to decide a major change in leadership. >> 3 million is the number of ipads and ipads minis sold this weekend sending stock higher premarket. the question is what's the breakdown and can this reverse the steady decline in shares since they hit the record high of more than 700. >> recovery from sandy continues. manhattan gets power back and most subway service is restored although milli
CNBC
Nov 5, 2012 12:00pm EST
thanks for that. >> thank you very much. >> that does it for us. let's get back to headquarters. michelle and the "fast money" halftime. >> thank you, carlito. welcome to the halftime report. i'm michelle caruso-cabrera. 13,079 on the dow. the s&p a decline of a point and the nasdaq composite in positive territory by six points just below 3,000, apple helping out there. on halftime, the election, of course. what an obama or romney victory means for the market and your investments. sandy's aftermath. we continue to track the latest kwomts as the east coast tries to pick up the pieces after the superstorm. we are trading the big movers with stephanie link, joe teranova and downtown josh brown. let's get to the election. the two candidates are entering the home stretch. john harwood has the latest from both camps. >> the candidates are racing through the battleground states. the organizations are working to turn out voters. the president will be appearing with bruce springsteen in ohio. jay-z in wisconsin rather. mitt romney is going to new hampshire. twice to virginia. you look at
CNBC
Nov 7, 2012 9:00am EST
you both. we'll have you both back very soon. that does it for us today. make sure to join us tomorrow. right now it's time for "squawk on the street." >> whether i earned your vote or not, i have listened to you. i have learned from you. you have made me a better president. with your stories and your struggles, i return to the white house more determined and more inspired than ever about the work there is to do and the future that lies ahead. >> president obama wins a second term in the white house but of course now the hard part begins. can he and congress agree on how to avoid the fiscal cliff just 54 days from now? good morning. welcome to "squawk on the street." i'm carl quintanilla with melissa lee, jim cramer, david faber. as you can see once again, down triple digits. a lot of news out of europe today as attention turns to greece and parliamentary vote there regarding austerity measures later on. democrats gaining seats in the senate. republicans maintaining control of the house. >> the issues that were a tossup are now certainties. we'll get cramer's take on how to align your
CNBC
Nov 20, 2012 6:00am EST
forces claiming to have targeted 100 gaza sites. the u.s. secretary of state hillary clinton is on her way to the middle east for talks with officials in a bid to try to end the deadly crisis. we've been watching oil prices, as well. and after sharp gains yesterday, you can see oil prices pulling back about 27 cents, still just about $89 for wti crude. we will have a live report from our nbc colleagues on the ground in the middle east coming up in the next half hour. >>> let's talk about some of the main market events of the morning. actually today fed chairman ben bernanke's speech at the economics sclub of new york is coming up at 12:15 eastern time. traders will be listening no any comments on the central bank's operation twist program and discussions about changing how the fed communicates about interest rates. operation twist expires next month. and there is some speculation the fed will continue making asset purchases by expanding the size of its $40 billion a month quantitate of it easing program. also on the economic agenda today, october housing starts released at 8:30 a.m. an
CNBC
Nov 5, 2012 1:00pm EST
'm tyler mathisen. sue herera is back with us. she's at the new york stock exchange. >>> we will get to the markets in just a few moments but first, the weather channel's on the next storm that is about to hit the northeast. i just hope we don't need for the recovery area along the east coast right now but we are looking at a full blown nor'easter in the wednesday to thursday time frame. let me show you one of our computer models here to outline just what's going to happen. talking about a low pressure system developing along the southeast coast here that's going to intensify as it moves northward. by wednesday morning rain and wind in to the new jersey and new york area. then, unfortunately, as we get into wednesday evening, this storm intensifies to a point that we're going to see greater than 50-mile-an-hour wind gusts into the new york city area right along the jersey coast. this green area here, a lot of rain as well. rain, wind, temperatures in the 40s. just really rough for those who are still going through the recovery. as we move ahead in time from wednesday night into thurs
CNBC
Nov 13, 2012 3:00pm EST
on the show as soon as earnings come out. that will be at the top of the next hour. and nyse ceo with us giving us an update two weeks after sandy historically closed sandy for two days. >> still a miracle they got things open when they did. we're oall following the latest in the general petraeus scandal. unbelievable twists, even today. we have a roreport from washington. then, more on how this story is shedding light on how anything you write can be accessed. pretty scary stuff and something to think about. >> really. in the markets right now, fractional gains right now. the dow jones industrial average off the best levels of the afternoon, but still showing a gain of about 17 points. looks like investors wait and see until we get some solutions on the fiscal cliff. nasdaq is negative by a fraction. down about four points. off of the worst levels, by the way. s&p 500 is up about 3 3/4 points at 1383. >> in today's "closing bell" exchange, we have carol roth, bruce mccain, and our own rick santel santelli. rick, i'm going to start with you today because we see that stutter step opening
CNBC
Nov 8, 2012 7:00pm EST
and a capital gains tax hike. superstar investor ken hebner tells us how to get through this period. >>> also, american drone and international airspace days before the election and kept secret until now. is that a coincidence? >>> and on election day, voters in two states allowed recreational use of marijuana. is this the gateway to liberals legalizing rampant drug use in this country? janine turner is going to join us. >>> within the hour, word that president obama will make a statement on the fiscal cliff and the economy at 1:00 p.m. tomorrow. the congressional budget office issued a new scenario of what happens if the president and congress fail to act. eamon javers joins us now with the details. good evening, eamon. >> reporter: good evening, larry. as you say, we're getting news tonight we're going to get dueling appearances tomorrow between speaker john boehner and president barack obama. the speaker will address a crowd of reporters at 11:00 in the morning. he will take questions from the press. we're told obama will speak at 1:00 in the east room of the white house and will not take
CNBC
Nov 5, 2012 3:00pm EST
bell exchange," todd is with us, so is bill, and steve liesman and pisani with us as well. it's expected this market is going to stand and wait to see what the election results are going to be like for tomorrow, right? >> hey, it's human nature. i mean, people have been paralyzed with all these horror stories about fiscal cliffs and the end of the dollar and the end of america. so, when in doubt, do nothing. hide your cash, sit on the sidelines. but i think there's going to be a big plunger effect that could really unleash tidal waves of money as people start to see maybe there's some wonderful surprises, some electoral surprises that just aren't popular right now. >> what are you suggesting? >> i don't know. this nose does more than hold this mustache and glasses and i think it might be a electoral surprise for mr. romney. if that's the case -- >> you think romney wins -- >> i do. >> -- that will be a surprise and this market rallies on that win? >> i think the market rallies big. there will be a lot of money in motion. people will be moving on with decision-making. there's t
CNBC
Nov 6, 2012 6:00am EST
of the u.s. economy. it's tuesday, november 6th, election day, 2012. "squawk box" begins right now. >>> good morning. welcome to "squawk box." i'm becky quick along with joe kernen and andrew ross sorkin and the polls are opening in various parts of the east coast as we speak. some 30 million americans have already voted, including the folks in the tiny village of dixville notch. this follows tradition, they voted just after midnight and with the lowest turnout in almost 50 years, this time around it was a tie. five votes for president obama, five for governor romney. back in 2008, president obama defeated john mccain 16-5. let's take a look at the map. 270 electoral votes are needed to win. nbc news now shows president obama with 237 likely. romney 206. and 95 in the toss-up column, so it is going to be a very long evening, andrew. >> i think we'll be staying up pretty late and then we'll be back at it tomorrow morning. but cnbc's team of reporters has the country covered this morning. stationed in battleground states, campaign headquarters and here at election central. among our
CNBC
Nov 6, 2012 8:00pm EST
carried in 2008. >> walk us through some of the shadings here of an election desk making a call. because pennsylvania is so important, why say that it's too early and yet also say that the president has the lead? >> because you get raw vote coming in that gives you an indication of how the state is going. you have exit polls which give you an indication of how the state is going. the people in our decision desk who are very expert at this, very experienced at this, they require a very high level of confidence by matching the exit polls to what they see in key precincts and the actual vote before they're willing to say we won't get a surprise say a huge vote in the western part, more conservative part of pennsylvania for mitt romney overcoming the lead that president obama would develop in philadelphia and counties around philadelphia. they're going to be absolutely certain at an almost 100% confidence level before they'll call any of those states even if a candidate stakes out an early lead. >> thanks very much. we'll come back to you soon. joining us from romney headquarters in boston i
CNBC
Nov 7, 2012 12:00am EST
administrations and different election nights. can you walk us through what some of the thinking is on the romney side at this hour knowing what we don't know? >> what they are doing is looking at counties in ohio including coal country where they say mitt romney is out performing george w. bush in 2004. had to retract it. they are not going to -- republicans aren't going make the same mistake again. they're going to fight until the very last vote the counted. >> the popular vote in florida. what's the threshold for an automatic recount? >> it's a half a percent. >> it might be there. 44,7 -- >> on the one hand you have the other states that could make the ohio discussion moot. on the other hand, they, too, could be as sickly as ohio is depending to be. >> if you had that combined with florida being hung up for some prolonged period of time, you could have a problem. i don't expect that to happen. >> i just think you go back. you can speculate on this. but, i want to go back to the other stuff, the fiscal stuff, the economic stuff. look, you have a lame duck session coming. the clock is ticking.
CNBC
Nov 13, 2012 7:00pm EST
it is out to almost eight years. we aren co encumbering those up us. i want the congress to make them. in 449 days, if the case comes about. just to make this harder, say the big tax hike kicks in, the first quarter goes negative, and they don't get a deal together,together, the second quarter goes negative, will they have to buy more? does the central bank see it self as a safety net position if congress and washington are as irresponsibilit irresponsibilityable as they are? >> i do not see us as that safety net. if we keep violating that, then we have bad policy. there is a limit. we have to discuss what that limit is. i haven't been in favor of that. i have lost that argument. but we can't continue down the road of infinite expansion of policy. he gives these guys the position of what not to do. it has been the great enableler. >> we have done our duty. inflation right now is under control and expectations are under control. i'm fully confident in arguing that. the second mandate larry is we need to create the conditions for full employment and that is where we get into a deep trap
CNBC
Nov 28, 2012 6:00am EST
. >>> then coming up at 8:00 eastern time, we'll be joined by weren buffett. he'll be joining us with carol lumis. let's get over to andrew, he has this morning's other top headlines. >> good morning to you, becky. the obama administration saying that china's currency remains significantly undervalued, but the u.s. treasury department is now stopping short of labeling the world's second biggest economy a currency manipulator. the white house is expected now to send the congress a multi-billion-dollar request on the recovery from superstorm sandy. the storm caused an estimated $71 billion in damages in new york and new jersey, and some congressional aides saying the request for funding would likely be at least $11 billion. the move comes as canada gets close to its decision on whether to approve the transaction. the energy companies say discussions with the committee are still in progress, and of course they had to file approval because they have extensive operations in the u.s. gulf of mexico. >>> "the wall street journal" reporting that virtue is emerging as the frontrunner to buy knight capital
CNBC
Nov 6, 2012 5:00pm EST
can join the conversation and tweet us, follow our coverage on twitter. this is just the beginning of our coverage tonight. >> it will be big. we have a great lineup of guests tonight including iowa governor terry branstad and chairman and national bureau of economic research president marty feldstein. and then we have former chairman and obama fundraiser robert wolf. later former new jersey governor. and then we have jim cramer with his take on tonight's election and ask what the results mean for various sectors and find out how he thinks you should be positioning your portfolio. >> we all understand the national polls would show obama and romney in a virtual dead heat. tonight it will come down to swing states. scott cohn is in columbus. >> no republican has ever won the white house without winning ohio which explains why mitt romney has been here twice in the last 24 hours. the democrats rpant taking this state for granted either. president obama in columbus last night at a rally attended by about 15,000 people. all of this has gotten the voter's attention. heavy turnout as well
CNBC
Nov 7, 2012 5:00am EST
, the american people, reminded us that while our road has been hard, while our journey has been long, we have picked ourselves up. we have fought our way back, and we know in our hearts that for the united states of america, the best is yet to come. >> we have left everything on our field. we have given our all to this campaign. i so wish that i had been able to fulfill your hopes to lead the country in a different direction. but the nation chose another leader. and so ann and i join with you to earnestly pray for him and for this great nation. >> investors say they've been waiting for this answer for months, after uncertainty that's been hanging over the markets. but what will the status quo in washington mean for stocks, bonds, currencies, and commod y commodities, and qe-3. but there's still the issues of that fiscal cliff. this morning, we're calling on leaders to solve this, to rise above partisan politics and come together to find a solution and save the u.s. economy from going down a dangerous road. it is wednesday, november 7th, the day after and a special early presentation of "squa
CNBC
Nov 14, 2012 9:00am EST
not only surprises the street with a beat but says the u.s. enterprise business is showing signs of improvement. >>> and abercrombie silences the shorts. >> the president is scheduled to meet with a dozen ceos this afternoon to hear their concerns about looming tax increases and spending cuts. 73% of participants in a "wall street journal" ceo council conference said the fiscal cliff is their primary concern. goldman chairman and ceo lloyd blankfein talking about the importance of avoiding the fiscal cliff. he writes there's more than a trillion dollars of cash that is sitting on the balance sheets of u.s. nonfinancial companies with certainty about tax rates, companies will increase their capital expenditures currently at anemic levels contributing to a virtuous cycle of jobs and growth." if there was a disagreement as to whether this is becoming a mainstream story. story of "usa today," a giant cliff and inside a chart of how it will affect people. this is getting real. >> the editor of "usa today" is the single best print journalist going today. he understands what the pulse i
CNBC
Nov 6, 2012 3:00pm EST
creation? >> well, from a corporate standpoint, yes, maria, because most u.s. corporations are sitting on cash. as you saw profit margins hitting all-time highs. they're clearly not hiring a lot. at the end of the day, this whole economy and the stock market is about jobs. the market could be up even more if we start to see some job creation, but we can't be bidding stocks higher unless we start to see some in flows from our private client friends, who by the way, don't buy bond funds. we still think there's a lot of work to do on the investment side in terms of building further fundamental clarity with respect to the option of buying equities versus selling them. >> so you're not jumping on this bandwagon today, this rally we're seeing here? >> no, for one thing, we are just relieved that all of this election stuff is over. that's number one. number two, let's get back to the business of america and stocks going up in america as an asset looking very well on a longer term perspective. however, on a near-term basis, the market in our belief is well ahead of historical norms in terms of
CNBC
Nov 6, 2012 10:00pm EST
cramer joins us on set. some of the states are interesting. nevada one of the highest unemployment rates in the nation. if obama takes it, that would be sayinging the. >> that's a big democrat machine. with every one of these, even just in the naf news, s&p futures ticked down again. they were down 8 and then it looked too close. they moved back to six. then when we found out about pennsylvania, and now they are really plummeting. the blow by blow is not something you want to play at home this has been so right and wrong and right and wrong. but just this last statement ticked it down again. >> that tells you that it is looking like we will see an opening for the stock market lower if we believe the numbers right now if in fact the market believes that the president is winning this. >>> i think what the market is saying okay, look. every swing state, every battleground, we have not got to say that every single one that we don't know yet has got to go romney's way or it will be done. the one problem with this is you see them fly back up. it's not like these people know more but there are
CNBC
Nov 7, 2012 12:00pm EST
, the euro u.s. dollar crosses hugely influential on u.s. stock prices. it has been for a long time and the news we heard out of germany was pretty bad and now you combine that with the fact that we're through this last earning season. and now we're going to plunge into this fiscal cliff stuff and i don't think that anyone believes it's going to be an easy compromise, even the people who think we're going to see a compromise are expecting a run of negative headlines that hits the tape day after day. that's kind of what is going on here. the game is in the obama index and is probably not going to last because selling like this tends to take down everyone in the end. >> but it's telling that that's the only area of the market that appears to be positive today, right? >> i agree. >> and what's the message of the markets today, in your opinion? >> i think that this is a focus shift. this is basically saying, look, we had a lot of tough government budget problems, tough business investor problems that we put off until after the elections and said we have some certainty and we can readdre
CNBC
Nov 8, 2012 9:00am EST
guy in a company and hoping no one notices him pretending to be the ceo. join us tomorrow. "squawk on the street" is next. >>> good thursday morning. welcome. i'm melissa lee with carl quintanilla and jim cramer live from new york stock exchange. david is on assignment today. look at the futures. the day after the day after. a huge selloff across the board in the markets with the markets closing at three-month lows. right now looking to add. the s&p 500 with an applied open up three points. in europe, a lot of action there. mario draghi holds the press conference. rates unexpected and seeing slight gains in europe. road map this morning starts off with stocks struggling to recover from the worst drop of the year. juggling a ton of information today. comments of draghi as we mentioned, bank of england freezing qe, a power shift in china, a capital plan of jp morgan and earnings of 14 s&p 500 companies. >> mcdonald's same store sales a key macro data point and october was not good. global comps go red for the first time in nearly a decade and the u.s. underperforming. any doubt now t
CNBC
Nov 14, 2012 7:00pm EST
will keep us off the fiscal cliff. by the way, that signal cost stocks 185 points on the dow. and because those tax hikes not only threaten future economic growth, they also include big penalties on capital gains, dividends and other forms of investment. plus, get this. the president wants a $1.6 trillion tax hike over the next decade. itself, a horrific number and begs the question, what is the government going to do with all our money? >>> and have you seen this video? in response to weeks of rocket attacks, israel gets their man with this missile attack on the military leader of hamas. now, israel is launching a full-scale ground attack on the hamas terrorists which are backed by iran, of course. by the way, this is all happening while we have no cia director here at home. >>> first up today, in his first news conference since being re-elected, president obama, with rhetoric sometimes reminiscent of his tax-the-rich campaign mantra, he appeared to dig in his heels on extending tax cuts for the wealthiest americans. take a listen. >> there is a package to be shaped. and i'm confident th
CNBC
Nov 7, 2012 11:00pm EST
once, a line i use endlessly thanks to a former partner at goldman sachs, i would be putting on my capital preservation halt. which, unlike my brokerage cap, resembles more of a hard hat. no soft chapeau here. my recommended course of action? here's what i would say. first we need to take some profits in the biggest winners. stocks like, for example, retailers because they benefitted from the payroll tax cuts and other benefits from the government. those are going to go away, conceivab conceivably, in the new tax regiment. there will be less purchasing power. second, i would say stocks like walmart that had a huge run go up another 10%. it may still pay to sell it now than when you get over on the other side of the fiscal cliff where it might appreciate 10%. needless to say, a stock like apple is very right for this particular kind of sell call. it makes so much sense to sell it now, take the capital gain as many have huge profits here. these people who are selling are what i call natural sellers. they don't care about next year. they don't care that it could be better. they don't
CNBC
Nov 19, 2012 6:00am EST
've written -- you've tried, you've tried hard, your other book was hcapitalism will save us if we let it. why flee markets are moral. and big government isn't. you sat down and said i guess the battle will continue because this last election no one read those books, i guess. they must have, but not enough people obviously. you didn't give them away. maybe that's why. but the one thing that -- >> i offered it to the romney camp, but they didn't take it. >> we tried to get romney on here a bunch of times. don't get me started on people that ran that campaign for him. but you were looking for one silver lining when you sat down and all you could come up with was that there are some governors that might not implement the exchanges for obamacare. is that the one thing you're positive about this morning in. >> short term we'll have a lot of turbulence and no small part because the federal reserve is still out to trash the dollar. europe, all the european countries are raising taxes. japan's raising taxes. we're going to raise taxes. just a matter of how much. so we'll have rough sledding next year.
CNBC
Nov 2, 2012 6:00am EDT
us for the report. and then we'll get reaction from the romney campaign with ron hubbard. that's at 8:40 eastern time. obviously a lot on our plates today. andrew, i'll send it over to you. >> the coast guard opening the port of new york new jersey on a restricted basis today allowing the backlog of barges containing gasoline and fuel into the area for the first time. how soon, however, will we see relief in the area impacted by sandy? that's the big question this morning. joe knows this very well, on my way in today, i had to take a taxicab for $125 because jeeves was this line to get gas, he was out of gas. >> i tried to take a car, my guy who i call -- he is not, but he nights as well be a former -- he has never failed. on on tuesday he came. and there have been snowstorms in the past where we've gone off the road, around, jack moved tractor trailers to get here's couldn't get gas. and so then i had to use -- i had a certain amount left in reserve. my gas tank is locked because people are siphoning now. >> it happened to one of our producers. >> there are people with guns. first 12
CNBC
Nov 2, 2012 9:00am EDT
to the numbers from dean mackey joining us from barclay's. good morning to you. >> good morning. >> any hair on the numbers, so to speak, as far as you can tell? >> i think this was a followed report when you look at the broad categories of job growth, when you look at the participation rate rise. the only underlying softness was in ourly earnings, but that really doesn't change the sfoer of where we've been. boug bottom line, the labor market has picked up some of the momentum after slowing down this summer. still a moderate recovery, though. >> yeah. the raining on expectationses w was 30,000 on one end. that beats even the top of the range. how could people have uniformly underestimated the number? >> the problem here is we're getting these upward revisions and so what happened last month the number was 114,000. that's been revised up significantly. if everyone would have known what that number actually was, we probably would have had higher numbers going into today's number. so it's just part of the game here, these upward revisions. >> look iing forward, dean, wit the hurricane and the
CNBC
Nov 2, 2012 1:00pm EDT
? how do you know it's all going to the right place? sue's out today. michelle caruso-cabrera is with us. >>> we're going to run you through with some video. help on the way from the west coast, from california. dozens of power trucks loaded on to giant air force cargo planes to help with power restoration. those things amazingly flying across the country all the way from california. the situation remains desperate in many neighborhoods in the tri-state area. these are pictures from this morning on staten island. there is virtually no power on the island. destruction is widespread. the secretary of homeland security janet napolitano will visit today. staten island is where the new york marathon will start on sunday. more subway service returning to manhattan, but not below 42nd street where power is still out in wide parts of the city south of that parallel. city officials say they may have to evacuate the marine life from the massive new york city aquarium based in brooklyn. the death toll from the storm nearing the 100 mark. despite the damage in atlantic city, that town's famous casin
CNBC
Nov 5, 2012 4:00pm EST
us. rick, i'm going to kick this off with you. what are traders saying ahead of tomorrow's election? >> they certainly expect a lot more movement in markets tomorrow and the following day. today was a go nowhere range day. even in the stocks they move into positive territory. dollar index has been firmly but lightly in positive territory with little turnover. same with the euro. many traders are saying, you know, it was momentum that propelled the giants in baseball. so, they're putting a lot of stock in momentum, which may be a positive for the challenger in the form of mitt romney but everybody has their own unique foibles how they want to proceed on the trading side. traders aren't giving me anything solid as a glimpse into who wins but they seem optimistic they think the fiscal cliff will be dealt with, but it won't be dealt with until next year and dealt with retrospectively. >> i would agree, that's what people are saying now. chris, regardless, you're saying you're staying neutral before the election. what does that mean? where are you putting your money right now? >> i think
CNBC
Nov 6, 2012 4:00pm EST
for joining us, everybody. why do you think that? >> well, as many of your guests have told you today, it's removing that uncertainty. i think this market doesn't care who wins. they'll finally put it to rest. they'll finally know who they're dealing with. it's better the devil you know than the devil you don't. >> gary, you're really focused on that fiscal cliff. are they going to be able to work this out? tell us how you envision this taking place after the election. >> we think this is the critical problem the country faces after the election. we see several scenarios. one is just kick the can down the road. we don't think that's the most likely scenario. the other is going over the fiscal cliff. we don't think that's the most likely scenario. we think there will be some compromise which will create some fiscal drag for the economy. >> if they've not been able to come to a compromise on this yet -- and by the way, this all happened one year ago. everybody who was in place today, that includes the president and congress, this happened on their watch. so you would think that they would s
CNBC
Nov 7, 2012 5:00pm EST
will the guys in d.c. play nice? >> because the american people expect us to find common ground, we are willing to accept some additional revenues via tax reform. >> investors aren't convinced. even apple seems to be losing its mojo. >> i'm really struck by this miniipad thing, as if that's any kind of a product innovation. once you start just changing the size of your products, i really think you're not exactly info vagt. wonder if you will start coming out with the tutti-frutti miniipad, it comes out in different colors. >> from ipads, to elections to europe, we are trading it all. this is "fast money." >>> live from the nasdaq markets, new york city's time square, i'm melissa lee. here are tonight's top three trades. we will give you the best protection plays amidst the uncertainty. apple hits a bear market, big names on the street are shot, the name, should you, too? our traders make that call. a changing of the guard in china, find out why a new batch of leaders can have a big impact on global growth and your portfolio. first, today's selloff you can the dow plunging more than 300 points,
CNBC
Nov 6, 2012 11:00pm EST
's get straight to john harwood at the maproom to give us more color on what we're seeing as the most recent poll closings. over to you, john. >> we're almost completely closing the map of coloring in the map of all the states we knew in advance where they were going to faull. the only state where polls have not closed yet is the state of alaska. we're very confident mitt romney is going to win that based on polls before the election. so we're really waiting for those seven battleground states that haven't been filled in yet. again, to reiterate, as we've talked about before, if president obama wins the state of florida this race is over. he's going to be re-elected for a second term. but if mitt romney wins it, he's got to also win north carolina, he's got to win virginia, where it's very close, and he's got to win the state of ohio, which is really a big one hanging out there. president obama is hoping to check mate mitt romney by winning the state of nevada, where he had been favored going into election day, and the state of ohio where he'd held a persistent lead in the polls. obam
CNBC
Nov 7, 2012 7:00pm EST
to the market? courtney reagan at the real-time exchange breaking it down for us. good evening to you, courtney. >> good evening, larry. last night might have been overwhelmingly blue but today it was all red. the day after the presidential election saw the dow shift 312 points, marking the biggest point loss so far this year for the index. but it could have been worse. at session lows the dow was actually off by 369 points. the sell-off was broadbased and multifaceted. some point to wall street's disappointment with president obama's re-election. but ecb head mario draggi's comments about weakness in europe affecting germany and apple's move into correction territory certainly didn't help things either. now, financials selling off as the market anticipates. another obama term could mean financial regulation is here to stay. coal stocks the hardest hit in the wake of romney's loss. we know he was a supporter. and while not all health care names performed well, hospital stocks did soar today, with obama care set to remain in place money will continue to flow to the hospitals. as you can see, you
CNBC
Nov 5, 2012 11:00pm EST
call me at 1-800-743-cnbc. the eve of the election is upon us. and the market is confused. dazed and confused about what to do, and confused about what matters if president obama is re-elected or not. the indecision over the outcome played out once again in today's quiet session. the dow gained 19 points. s&p rallied. nasdaq advanced .59%. tonight i want to show you what really matters in stocks, why they might go up or down independent of the election. don't worry, i'm going to give you some picks for an upset by governor romney, although i'm on record thinking it's most likely not going to go the governor's way. but i bow to popular demand. first up, let's figure out how stocks have really done under president obama, and i'm going to use a prism that i haven't seen anyone else use, the five-year lookback. you cannot use the inauguration day as the starting point. there's too much priced in at that point. almost every stock is higher, so it's irrelevant. the s&p is up 75% from inauguration. we need to go back to when the great recession was just about to begin. it became clear t
CNBC
Nov 6, 2012 7:00pm EST
. that's what put this state really into play in this election cycle. we didn't used to pay much attention to virginia before but it is close. that's why both candidates have spent so much time in this state this year, the two candidates as well as their running mates doing over 90 appearances in the state just since august 31st. president obama did nine rallies. governor romney held ten rallies, spent $131 million just in television ad campaigns. so again, this state running very close right now. this is going to take a couple more hours. back to you. >> as you point out, diana, the new virginia is different from the old virginia. nbc news, let's recap right now, has projected that mitt romney is the winner in the state of indiana. and there you see 11 electoral votes in the romney column. nbc news also projecting mitt romney the winner in the state of kentucky with 8 electoral votes based on 5% of the polling data in. president obama is the projected winner in vermont as expected. that is 3 electoral votes. >> we still have too early to call in georgia according to nbc news, th
CNBC
Nov 14, 2012 1:00pm EST
combination that will keep us from going off the fiscal cliff. i think you also have to realize that you have people on both sides who it's not going to be a matter of whether or not you drive off the fiscal cliff. it's going to be how high you make the flames go. you have to realize that you can't get those people probably so you want to get as many people as you can in the middle, republicans and democrats, to get the votes through to get a package that will make our economy stronger and deal with the tough choices that have to be made that have been put off for a long time. >> do they take us over the cliff, nick? do you think they'll get it done in time or not? >> oh, i'm an optimist. i don't know that they'll get the entire deal done. i think what you might see, sue, is getting a deal in place that puts a down payment down and provides more time to try to get l of this magnitude done in the next six weeks i think is very difficult as a practical matter, as a human matter, because you've got to bring people along to the point where they're willing to vote yes for something long term. >> y
CNBC
Nov 6, 2012 1:00pm EST
the polls tell us that he is ahead in those three? >> yes. >> they do? >> he is ahead in all three. in fact of the nine swing states, tyler, mitt romney has a clear lead only in the state of north carolina. he is even with president obama in florida and many strategists in both parties believe florida will go to mitt romney but he has got to get a lot more than that. >> john harwood, thank you very much. as john outlined it is very difficult for either candidate, frankly, to get to that magic 270 number without the state of ohio and here's video evidence from cleveland as to how important it is. both the romney and the biden campaign planes making stops at the cleveland hopkins airport and holding last-minute appearances in the state. our senior correspondent scott cohn is in the buckeye state, a state with the state of the economy actually cuts both ways. scott? >> yeah, it does, tyler. first, a look at how this day is going. we are at the student union at ohio state university. you can probably see the sun coming in behind me. it's a beautiful day in ohio. 1.8 million absentee votes -- ba
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